Johnson & Johnson Opens Up 40,000 Life Sciences Incubator in Canada to Foster Startups
Summary
The new JLABS facility can accommodate up to 50 startups and opens with 22 companies that represent a range of sectors including therapeutics, medical devices and consumer health solutions. JLABS supports entrepreneurs by helping them overcome common barriers to discovery and development, such as the large initial investment of time and money that is necessary to establish working labs and other business infrastructures. JLABS @ Toronto will feature a device and digital prototype lab that will provide entrepreneurs access to highly specialized tools, as well as skill-building programs to design and develop smart health technologies. "We are thrilled to be part of the flourishing life sciences community in Toronto and to contribute to Ontarios vision to help drive the province toward becoming a world leader in innovation for health and wellness," said Melinda Richter, Head of JLABS. "JLABS Torontos arrival reflects the growing international prominence of Ontarios life sciences sector," said Dr. Raphael Hofstein, president and CEO of MaRS Innovation.